GAMCO Asset Management (UK)

GAMCO's non-U.S. affiliate GAMCO Asset Management (UK) Limited provides products and services designed specifically for overseas investors. GAMCO does not offer these products or services outside their intended countries or regions, and purchase orders from U.S. investors will not be accepted, subject to limited exceptions.

The information available through accessing GAMCO Asset Management (UK) Limited has been prepared and is maintained by non-U.S. affiliates of GAMCO Investors, Inc. Access to this material by U.S. residents is for informational purposes only and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security under U.S. law. All content contained therein should be considered, and is subject to, the specific regulatory requirements under which GAMCO Asset Management (UK) Limited operates.

To reach the web site of a non-U.S. affiliate of GAMCO Investors, Inc., please click here.

Gabelli Japan, K.K.

GAMCO's non-U.S. affiliate Gabelli Japan, K.K. provides products and services designed specifically for overseas investors. GAMCO does not offer these products or services outside their intended countries or regions, and purchase orders from U.S. investors will not be accepted, subject to limited exceptions.

The information available through accessing Gabelli Japan, K.K. has been prepared and is maintained by non-U.S. affiliates of GAMCO Investors, Inc. Access to this material by U.S. residents is for informational purposes only and should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security under U.S. law. All content contained therein should be considered, and is subject to, the specific regulatory requirements under which Gabelli Japan, K.K. operates.

To reach the web site of a non-U.S. affiliate of GAMCO Investors, Inc., please click here.

Inception Date: January 02, 1992
Returns represent past performance and do not guarantee future results. Current performance may be lower or higher than the peformance data quoted. Investment return and principal value will fluctuate so, upon redemption, shares may be worth more or less than their original cost. To obtain the most recent month end performance information and prospectus, please call 800-GABELLI or visit www.gabelli.com

Performance pertains to the share class noted only. Other share classes may have different performance characteristics. The Class AAA Shares' net asset values are used to calculate performance for the periods prior to the issuance of Class A Shares and Class C Shares on December 31, 2003, and for the Class I Shares on January 11, 2008. The actual performance for the Class C Shares would have been lower and Class I Shares higher due to the different expenses associated with those classes of shares.Performance for periods of less than one year are not annualized. The Fund imposes a 2% redemption fee on shares sold or exchanged in seven days or less after the date of purchase.

The Fund's share price will fluctuate with changes in the market value of the Fund's portfolio securities. Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell Fund shares, they may be worth less than what you paid for them. Consequently, you can lose money by investing in the Fund.

Customized performance does not reflect the full effect of the front-end or back-end sales charges which for
Gabelli Equity Income Fund A Fund is 5.75%.
Quarterly (Standardized)
performance
reflects the full effect of the front-end sales charge. Other Period Performance does not reflect the full effect of the
front-end or back-end sales charges. Please consult your financial adviser for prospectus and for more information on
mutual fund sales charges.

(1) Maximum Sales Charge for Class A shares is a percentage of the initial investment and may be
reduced based on the size of your investment.
Class B and C shares have a contingent deferred sales charge
when you redeem your shares depending on your holding period. Please see the Fund's Prospectus or contact
your adviser for a complete description of the applicable sales charge.
(2) Gross Expense Ratio is the expenses of the Fund reflected as a percentage of the Fund's average
daily net assets and does not include any voluntary or contractual fee waivers or expense limitations as
described in the Fund Prospectus.
(3) Net Expense Ratio is the expenses of the Fund including any voluntary or contractual fee waivers
or expense limitations as a percentage of the Fund's average daily net assets. Where applicable, please see
the Fund's Prospectus or contact your Adviser for a complete description of the fee waiver or expense
limitation, the effective date and the expiration date.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800-GABELLI or visit www.gabelli.com.

The Gabelli Mutual Funds are distributed by G.distributors, LLC., a registered broker-dealer and member of FINRA.